Inspire Investing LLC Decreases Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Inspire Investing LLC reduced its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 34.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,510 shares of the financial services provider’s stock after selling 1,325 shares during the period. Inspire Investing LLC’s holdings in Intercontinental Exchange were worth $344,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ICE. Wellington Management Group LLP grew its holdings in shares of Intercontinental Exchange by 35.0% during the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after purchasing an additional 4,251,371 shares during the last quarter. Point72 Europe London LLP grew its stake in Intercontinental Exchange by 10.9% during the 4th quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock worth $8,515,000 after buying an additional 6,500 shares during the last quarter. Perpetual Ltd increased its position in Intercontinental Exchange by 0.4% during the first quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider’s stock worth $204,495,000 after buying an additional 6,272 shares during the period. Assenagon Asset Management S.A. lifted its stake in Intercontinental Exchange by 819.7% in the second quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock valued at $18,764,000 after buying an additional 122,169 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Intercontinental Exchange by 7.0% in the first quarter. Russell Investments Group Ltd. now owns 317,544 shares of the financial services provider’s stock valued at $43,617,000 after acquiring an additional 20,802 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Buying and Selling

In other news, CAO James W. Namkung sold 1,043 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total value of $156,450.00. Following the completion of the transaction, the chief accounting officer now owns 17,836 shares in the company, valued at $2,675,400. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CAO James W. Namkung sold 1,043 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total value of $156,450.00. Following the sale, the chief accounting officer now directly owns 17,836 shares in the company, valued at $2,675,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 395 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the transaction, the chief technology officer now owns 64,471 shares of the company’s stock, valued at $9,098,792.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,268 shares of company stock valued at $9,508,809. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Citigroup upped their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Barclays lifted their target price on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. upped their price target on Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.08.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $158.75 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $163.71. The firm’s fifty day simple moving average is $156.26 and its 200-day simple moving average is $143.09. The stock has a market cap of $91.06 billion, a PE ratio of 36.41, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period last year, the company posted $1.43 earnings per share. Analysts expect that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current fiscal year.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.